Invest Cyprus issued a statement on Monday underscoring the significance of five strategic Memoranda of Understanding (MoUs) signed on January 8 at the Egyptian presidential palace in Cairo. These agreements were formalised during a tripartite summit held in the Egyptian capital, bringing together the leaders of Cyprus, Greece, and Egypt to discuss collaboration across multiple […]
Vehicle registrations in Cyprus rose by 9.1 per cent in 2024, reaching 49,616 compared to 45,494 in 2023, according to the state’s statistical service. Electric vehicles accounted for 4.0 per cent of registrations, up from 2.7 per cent in 2023, while hybrid vehicles grew to 37.1 per cent from 29.6 per cent. Passenger saloon car registrations increased by 4.9 per cent, totalling 38,410 compared to 36,608 in 2023. Among these, 39.2 per cent were new cars, while 60.8 per cent were used. Rental […]
A decade since the Asean Economic Community was established, the region has made progress in integration and drawing FDI but many hurdles still lie ahead IT WAS 2013, the night before the launch of UOB’s Foreign Direct Investment (FDI) Advisory centre in Indonesia. It was then too, that the rupiah weakened due to global and […]
The sale of Superhome Center DIY in Cyprus to a Greek investor is moving forward, with the final deal expected to be concluded in the coming weeks. Sources confirmed to Kathimerini that the Greek investor is set to acquire 100% of the shares in Superhome Center, with the transaction expected to be completed by mid-month. […]
The Public Works Department is expediting the preparation of new tender documents for the first phase of the Paphos-Polis road, aiming to announce the tender as soon as possible, according to director Eleftherios Eleftheriou. Following the termination of the contract with contractor INTRAKAT, the department conducted a detailed record of the work completed to finalise […]
Perched on the lush slopes of the Troodos Mountains in Cyprus, the village of Kalopanagiotis exudes authentic charm with its cobbled streets, Byzantine monasteries, and ancient thermal springs. Recognised by the UN as one of the best villages for tourism in 2024, this Cypriot gem offers a timeless journey into a vibrant culture and abundant […]
The Central Bank of Cyprus (CBC) announced this week that it has started to accept instant payments on behalf of itself and its clients, including certain government departments and state organisations. The payments, effective from January 9, can be made from any payer account within Cyprus or across the Single Euro Payments Area (SEPA), the CBC said. Instant payments, also known as […]
Cyprus will resolve all technical issues necessary to join the Schengen area by 2025, President Nikos Christodoulides said on Friday. The political aspects of the matter have already been addressed, he added. Cyprus and Ireland remain the only EU member states outside the Schengen area, as they have no land borders with other EU countries. Speaking […]
The Deputy Ministry of Tourism has set a January 25 deadline for stakeholders to submit suggestions regarding the Paphos Marina project, following the publication of its basic specifications. George Mais, president of the Paphos Chamber of Commerce and Industry, said the ministry published the marina’s key characteristics before Christmas to allow potential consortia and bidders to […]
Beer deliveries in Cyprus grew by 1.8 per cent in 2024, reaching a total of 42.9 million litres, according to figures released on Thursday by the Cyprus Statistical Service (Cystat). Domestic beer deliveries rose by 1.1 per cent year-on-year, amounting to 39.7 million litres. Meanwhile, exports saw significant growth, climbing by 8.9 per cent to […]
Cyprus surpassed other European countries like Croatia, Bulgaria, and Slovenia in short-term rental growth during 2024, according to Eurostat. The EU’s statistical office reported this week that short-term bookings in Cyprus jumped to 759,315 in September 2024, up from 642,601 the previous year. From January to September 2024, Cyprus recorded a total of 4,8 million […]
Cyprus’ shopping malls reported record-breaking performance in 2024, with December emerging as a standout month for both footfall and sales. George Georgiou, general manager of Nicosia Mall, told local outlet Stockwatch that annual visitor numbers increased by 3 per cent compared to 2023, reaching nearly 5.7 million. Preliminary data suggest an 8 per cent-10 per cent rise […]
Cyprus is set to intensify its appeal to Chinese tourists, aiming to secure a greater share of one of the world’s largest outbound travel markets, Deputy Minister of Tourism Kostas Koumis said this week. This announcement came during a strategic dialogue with a visiting delegation from Shanghai, led by Fumo Ji, the Athens-based General Manager […]
The Ministry of Labour and social partners are set to prioritise updating the employment strategy for third-country workers, following recent developments in the labour market. Sources indicate that after yesterday’s Labour Advisory Body meeting, this issue emerged as the most likely to progress swiftly, with the Ministry of Labour’s apparent support. The Technical Committee of the […]
The Sihanoukville Special Economic Zone (SSEZ) achieved a total import and export volume of $4.07 billion in 2024, up 21.3 percent compared to the same period in the previous year, according to data released by the SSEZ on Monday. SSEZ reported that the total import and export volume in 2024 marked a new peak. Throughout […]
€9.3 billion milestone reached in 2024 The Cyprus Investment Funds Association (CIFA) on Wednesday released a statement saying that it views 2025 “as a year of strategic growth and opportunity in the investment funds sector”. “Cyprus’ investment funds sector exemplifies resilience and innovation, driving our collective vision for sustainable economic progress,” stated CIFA. CIFA expanded […]